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Mindray’s Q1 Underwhelms Investors

publication date: May 12, 2009

Mindray Medical International Limited (迈瑞医疗国际有限公司), the Shenzhen maker of medical devices, announced its Q1 revenues jumped 54% to $134.2 million. Net income, however, failed to keep pace with revenues, rising just 10% higher to $30.5 million on a non-GAAP basis and $25.3 million following GAAP rules. The numbers were a bit of a disappointment as analysts expected the company’s revenues to be close to $145 million, though earnings came in slightly ahead of forecasts. More details..